Sensex jumps 255 points to end at a fresh record
Equity benchmark Sensex surged 255 points to close at an all-time high on Thursday, tracking gains in index majors HDFC Bank, L&T, and HCL Tech. The 30-share BSE index settled 254.75 points or 0.48 percent higher at its lifetime high of 53,158.85. Similarly, the broader NSE Nifty rose 70.25 points or 0.44 percent to its all-time high of 15,924.20.
Who were the top gainers or losers?
Amid signs of earnings recovery, HCL Tech was the top gainer in the Sensex pack, rallying over 5 percent, followed by L&T, Tech Mahindra, HDFC Bank, UltraTech Cement, ITC, and Tata Steel. Meanwhile, Bharti Airtel, M&M, Asian Paints, Titan, and Sun Pharma were among the laggards. Sensex touched a record intra-day peak of 53,266.12 while Nifty reached its intra-day peak at 15,952.35.
IT stocks were the reason behind the record high
As global investors digest inflation data and the US Fed commentary, Dalal Street bulls were seen betting on economic recovery as IT stocks continue to power the indices to new highs, said S Ranganathan, Head of Research at LKP Securities. Markets seemed in no mood to oblige investors waiting on the sidelines for a correction as sector rotation played its part during the session.
Brent crude was trading at $74.24 per barrel
Capital Goods made a smart comeback and the broader market was buzzing with action across real estate, Ranganathan added. Elsewhere in Asia, bourses in Shanghai, Seoul, and Hong Kong ended with gains, while Tokyo was in the red. Stock exchanges in Europe were trading on a negative note in mid-session deals. Meanwhile, international oil benchmark Brent crude declined 0.70 percent to $74.24 per barrel.